1. Familia Martínez Zabala on Faustino rebrand and tackling declining wine consumption.
- Author
-
Broadbent, Jessica
- Subjects
CONSUMPTION (Economics) ,REBRANDING (Marketing) ,SPANISH wines ,AUSTRALIAN wines ,WINE industry ,WINE tasting - Abstract
Familia Martínez Zabala, a family-owned Spanish wine group, has rebranded its flagship brand, Bodegas Faustino, in an effort to attract new consumers without alienating existing ones. The company has reduced the weight of the bottles and redesigned the labels. They are also addressing declining wine consumption by adapting to changing trends, such as the increasing demand for white wine and the need for lower-alcohol and more environmentally friendly options. The company is exploring the possibility of producing low-and-no alcohol wines under their brand Bodegas Leganza. They have a strong presence in export markets, including the UK, Europe, North America, Asia, and Latin America. The company is focusing on diversifying their markets and investing in China despite new competition. In their domestic market, Spanish wine dominates, and Faustino is well-represented in tourist areas. Inflation and high interest rates have impacted spending, but the company has managed to recover pre-pandemic volumes. They have invested in a new winery and visitor center focused on sustainability. The total investment in the winery build is close to €15m. [Extracted from the article]
- Published
- 2024